Inceptionr LLC Reduces Stock Position in Wynn Resorts, Limited $WYNN

Inceptionr LLC cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 67.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,409 shares of the casino operator’s stock after selling 5,059 shares during the period. Inceptionr LLC’s holdings in Wynn Resorts were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Wynn Resorts by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after acquiring an additional 754 shares in the last quarter. Woodline Partners LP grew its position in shares of Wynn Resorts by 36.2% in the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after purchasing an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Wynn Resorts by 13.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock valued at $155,000 after purchasing an additional 201 shares during the period. Finally, Guggenheim Capital LLC raised its stake in shares of Wynn Resorts by 9.5% during the 2nd quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock valued at $937,000 after purchasing an additional 868 shares during the period. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts News Summary

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn Resorts and Marjan have broken ground on Wynn Al Marjan Island in Ras Al Khaimah, advancing the company’s first integrated resort in the UAE. The project could provide a long-term growth opportunity through geographic diversification and exposure to the developing Middle Eastern gaming and tourism market. Marjan and Wynn Resorts break ground on Janu Al Marjan Island
• Positive Sentiment: Mizuho lowered its Wynn Resorts price target from $133 to $125 but maintained an Outperform rating. The revised target still implies substantial upside, suggesting the analyst believes the recent pullback has created an attractive entry point despite more cautious estimates. Mizuho lowers Wynn Resorts price target
• Neutral Sentiment: The Neon Museum will host an October event featuring former Wynn Resorts chairman Steve Wynn discussing how The Mirage changed Las Vegas. The event may generate publicity around Wynn’s Las Vegas legacy, but it is not expected to have a meaningful direct financial effect on Wynn Resorts. The Neon Museum to present Reflections of the Mirage
• Negative Sentiment: Analysts expect Wynn Resorts to report a year-over-year earnings decline in its upcoming results. Zacks says the company lacks the typical combination of positive earnings revisions and estimate momentum associated with a likely earnings beat, increasing the risk of disappointing guidance or results. Analysts estimate Wynn Resorts to report a decline in earnings

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a report on Friday, May 8th. The Goldman Sachs Group set a $120.00 price objective on shares of Wynn Resorts in a research report on Wednesday, July 15th. Citigroup reduced their price objective on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Susquehanna decreased their target price on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $135.44.

Wynn Resorts Stock Down 0.7%

Shares of NASDAQ WYNN opened at $99.02 on Wednesday. The firm has a market capitalization of $10.28 billion, a P/E ratio of 29.56, a P/E/G ratio of 0.98 and a beta of 0.99. The stock’s 50-day simple moving average is $100.38 and its two-hundred day simple moving average is $104.59. Wynn Resorts, Limited has a twelve month low of $92.52 and a twelve month high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, research analysts anticipate that Wynn Resorts, Limited will post 4.49 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.